The California Governor’s Office of Business and Economic Development (GO-Biz) is authorized to negotiate more than $55 million in tax California Competes Tax Credits (CCTC) for the credit’s final application period. Applications for the CCTC will be accepted online at www.calcompetes.ca.gov from March 5, 2018, through March 26, 2018.
Who Qualifies
The CCTC is available to businesses—regardless of size or industry—with plans to grow new, full-time jobs in California. It includes organizations meeting any of the following criteria:
- California-based companies thinking about expanding
- Out-of-state companies planning to start a business in California
- Out-of-state companies planning to relocate operations to California
- Companies contemplating leaving California
Since 2014, GO-Biz has awarded $555.3 million to 775 companies that are projected to create more than 77,000 new jobs and bring in over $15 billion in new investments.
Possible Program Continuation
While CCTC is slated to expire after this application period, there’s currently proposed legislation to extend the program. Stay tuned for future Alerts.
We’re Here to Help
Since the CCTC’s inception in 2014, we’ve represented our clients to more than $30 million in CCTC awards by leading them through California’s highly competitive application and negotiation process. With more than $55 million in credits available in the program’s final application period, we encourage you to learn more about the process. Visit our CCTC webpage for more information, or email us at statetax@mossadams.com.